In a continued joint effort to streamline the Tax Capital Reporting Requirement for partnerships, The U.S. Treasury and IRS recently provided additional penalty relief for
Update as of January 25, 2021: The IRS issued Notice 2021-11 to clarify the adjustments made to Trump’s Payroll Tax Deferral by the COVID-Related Tax
Beginning with 2020 information reporting, the IRS is reintroducing Form 1099-NEC, a form that was previously used until the early 80’s for reporting nonemployee compensation.
On December 27th, President Trump signed the COVID-Related Tax Relief Act (COVIDTRA), a $908 billion coronavirus relief package, into law. Among other provisions, the legislation
The IRS has issued Revenue Ruling 2020-27, which sets forth the IRS’s position on the timing of the disallowance of deductions related to Paycheck Protection
